NEW YORK (TheStreet) -- Shares of Mylan Inc. (MYL) are up 3.30% to $48.59 after it was reported that the generic drugs company, along with private equity groups TPG Capital, Advent International, KKR & Co. (KKR) , and Warburg Pincus, and some Indian drug makers, have made it through to the second round of bidding for a portfolio of mature drugs being sold by GlaxoSmithKline (GSK) , sources told the Wall Street Journal.

Glaxo has said it is looking to sell a portfolio of prescription medicine brands in Europe and the U.S. with annual sales of about $1.66 billion.

TheStreet Ratings team rates MYLAN INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate MYLAN INC (MYL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

The revenue growth came in higher than the industry average of 4.5%. Since the same quarter one year prior, revenues slightly increased by 8.0%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.

Compared to its closing price of one year ago, MYL's share price has jumped by 25.33%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, MYL should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.

The gross profit margin for MYLAN INC is rather high; currently it is at 52.57%. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, MYL's net profit margin of 6.81% significantly trails the industry average.

MYLAN INC's earnings per share declined by 30.4% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, MYLAN INC increased its bottom line by earning $1.58 versus $1.53 in the prior year. This year, the market expects an improvement in earnings ($3.28 versus $1.58).